Social mobility and economic success
Our latest report, published today, finds that improving social mobility could increase UK GDP by 2%.
For this latest in our series of pro-bono studies, Oxera worked with the Sutton Trust, a charity seeking to increase social mobility through education, to examine the relationship between social mobility and economic success.
Our research found that improving social mobility is not just about equity—it is an economic imperative. Increasing social mobility makes it more likely that talent will be well matched to jobs in the economy. We (conservatively) estimate that if UK social mobility could match that of the western Europe average, GDP could be 2% higher than it is (that is £39bn or nearly £600 per person). While moving to this level takes time (enough time for children benefiting from social policy today to reach the peaks of their careers), the impact could be significant.
Dr Helen Jenkins, Oxera Managing Partner, will present our findings today at the Sutton Trust’s 20th Anniversary event, a day showcasing the latest research on social mobility and featuring live debate between the top policymakers, academics and voices in the field.
For more information, please contact Helen Jenkins.